Universal Music Group and Authentic Brands Group (ABG) have launched a strategic initiative to acquire and actively manage artist brands.
ABG is one of the world’s leading brand owners with a portfolio that includes iconic celebrities such as Marilyn Monroe, Muhammad Ali, and Elvis Presley. It creates brand experiences across key consumer touchpoints, platforms and emerging media.
UMG and ABG will combine their respective leadership in artist brand management to expand the legacies and cultural impact of artists around the world, according to the announcement.
Working with artists, their representatives and legal heirs, the companies will strategically market and position artists across a wide range of consumer touchpoints, leveraging their name and likeness to drive opportunities in merchandise, memorabilia, licensing, brand experiences and media and entertainment, among many others.
Sir Lucian Grainge, chairman and CEO, Universal Music Group, said: “UMG and ABG have strong track records as powerful stewards of artist and celebrity brands. Through this initiative, we will invest in name and likeness rights to create unique opportunities for artists with the goal of greatly expanding their cultural and commercial impact.”
Jamie Salter, founder, chairman and CEO of ABG, said: “We are honoured to partner with the enormously talented team at UMG for this groundbreaking initiative. Together, UMG and ABG will work strategically to preserve the legacies of history’s greatest artists.”